July 18, 2011

STEM is Cool

The U.S Commerce Department Economics and Statistics Administration’s report, “STEM: Good Jobs Now and for the Future,” found that growth in STEM jobs has been three times greater than that of non-STEM jobs over the past 10 years. STEM stands for Science, Technology, Engineering and Math.

Some key findings:

In 2010, 7.6 million people or 5.5 percent of the labor force worked in STEM occupations.

In the coming decade, STEM occupations are projected to grow by 17 percent, compared to 9.8 percent growth for other occupations.

STEM workers earn 26 percent more than non-STEM workers.

STEM workers are less likely to experience joblessness.

Commerce Secretary Gary Locke wrote that STEM jobs will help the U.S. win the future:

Expanding the participation of students in the STEM fields – including girls, minorities and students with disabilities – is not just the right thing to do; it’s the smart thing to do.

Investments in basic research and the people who can make great discoveries with new ideas will help drive our technological innovation and global competitiveness. STEM jobs are the jobs of the future, and they are essential to growth in America.

And if you’re still not convinced that STEM matters, check out this piece in TechCrunch:

In a similar vein, many of the companies in Silicon Valley are succeeding precisely because they’re disrupting existing players in their industries. Amazon is doing really well right now (almost $10 billion in revenue in the last quarter alone). Borders…not so much. Go iTunes and Spotify. RIP Tower Records. Creative destruction is alive and well but how many people in Silicon Valley are thinking about what happens to that displaced worker at the record store or bookstore?